The BBC has reported that insurance claims for data breaches are being made at a rate of more than one a day! One firm they spoke to said that in 2016 it handled more than 400 claims on cyber-breach policies it had issued, with privacy breaches and theft of cash being the main types of attack.
The insurer also stated that claims were up 78% on 2015. Ransomware, in which data is encrypted until victims pay cash to a hacker to unscramble it, was behind 16% of the claims filed with the insurer, putting it third behind data breaches and theft, they added.
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